Tech24, backed by HCI Equity Partners, has acquired AmeriCold and Arrowhead Commercial Equipment (Arrowhead). Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment.
Arrowhead and AmeriCold represent Tech24’s tenth and eleventh add-on acquisitions in the highly fragmented foodservice repair and maintenance market. Financial terms have not been disclosed.
AmeriCold is a provider of cold-side repair and installation services to customers in the New York metro area, Washington DC, and Southeast Florida. The company has a wide range of customers across the restaurant, grocery store, and institutional end markets, from New York City’s premier restaurants and hotels to fast-casual dining facilities, hospitals, and universities. This acquisition expands the Tech24 platform’s cold-side refrigeration services and increases its market share in key MSAs.
Based in Phoenix, Arizona, Arrowhead is a provider of repair services, preventative maintenance, and installation for foodservice and refrigeration equipment. Arrowhead provides both hot and cold-side service for customer segments including restaurants, grocery stores, country clubs and senior care facilities. The acquisition increases Tech24’s market share in the fast-growing Phoenix market and brings a talented team and technicians experienced in all types of equipment.
